Glaswegian agritech startup Solasta Bio has raised $14m (£10.7m) as it develops its “nature-inspired” pest control technology.
Founded in 2021, Solasta Bio is developing a peptide-based insecticide without the use of a synthetic chemistry library.
The startup described its product as meeting industry efficacy standards whilst being more environmentally friendly by targeting pests and protecting beneficial insects like bees.
“Solasta Bio has come a long way since we set out on this journey 3 years ago,” said Solasta Bio co-founder and CEO Shireen Davies.
“The results of our field trials have been hugely encouraging, demonstrating high efficacy of biopeptides against target insect pests, as effective or better than standard insecticides.”
The investment round was led by Dutch venture capital firm Forbion through its BioEconomy fund alongside FMC Ventures and Corteva.
“As traditional insect control agents struggle with resistance and impact to biodiversity, Solasta is poised to revolutionise the crop protection market at a critical time, with a cost-effective, sustainable and high-efficacy alternative that can be adopted seamlessly by farmers,” said Forbion BioEconomy partner Joy Faucher.
“The team’s deep expertise in insect neuropeptide modalities, their differentiated tech platform and proven real-world data provide a unique position to launch a series of first-in-class products that can redefine the agriculture industry.”
Additional funding came fro Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures and the University of Glasgow.
The company said it has raised a total of $19m since its founding. It previously raised £4m in April 2023.